13F HOLDINGS REPORT
Herald Investment Management Ltd
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0001512022-26-000004
Total Value
$765.5M
Positions
97
Other Managers
0
Confidential Omitted
No
Holdings (97)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Celestica Inc | CLS | 229,500 | $67.9M | 8.87% |
| 2 | Fabrinet | FN | 107,600 | $48.9M | 6.39% |
| 3 | Pegasystems Inc | PEGA | 703,600 | $42.0M | 5.49% |
| 4 | Silicon Motion Technology Corp | SIMO | 384,906 | $35.6M | 4.66% |
| 5 | Vicor Corp | VICR | 245,000 | $26.8M | 3.51% |
| 6 | Tower Semiconductor Ltd | TSEM | 180,000 | $21.1M | 2.76% |
| 7 | Super Micro Computer Inc | SMCI | 709,500 | $20.8M | 2.71% |
| 8 | Arlo Technologies Inc | ARLO | 1,307,000 | $18.3M | 2.39% |
| 9 | RADWARE Ltd | RDWR | 675,000 | $16.3M | 2.12% |
| 10 | Descartes Systems Group Inc/The | 249906108 | 185,000 | $16.2M | 2.12% |
| 11 | Varonis Systems Inc | VRNS | 483,500 | $15.9M | 2.07% |
| 12 | JFrog Ltd | FROG | 230,000 | $14.3M | 1.87% |
| 13 | Alphabet Inc | GOOG | 44,100 | $13.8M | 1.80% |
| 14 | Kulicke & Soffa Industries Inc | 501242101 | 276,100 | $12.6M | 1.64% |
| 15 | Microsoft Corp | MSFT | 25,800 | $12.5M | 1.63% |
| 16 | AvePoint Inc | AVPT | 850,000 | $11.8M | 1.54% |
| 17 | Alkami Technology Inc | ALKT | 500,000 | $11.5M | 1.51% |
| 18 | Amazon.com Inc | AMZN | 49,400 | $11.4M | 1.49% |
| 19 | Red Violet Inc | RDVT | 200,000 | $11.4M | 1.49% |
| 20 | Electrovaya Inc | ELVA | 1,440,000 | $11.3M | 1.48% |
| 21 | Ceva Inc | CEVA | 520,000 | $11.2M | 1.46% |
| 22 | Leonardo DRS Inc | DRS | 285,000 | $9.7M | 1.27% |
| 23 | DigitalOcean Holdings Inc | DOCN | 202,000 | $9.7M | 1.27% |
| 24 | Micron Technology Inc | MU | 33,500 | $9.6M | 1.25% |
| 25 | Qualys Inc | QLYS | 65,000 | $8.6M | 1.13% |
| 26 | nLight Inc | LASR | 215,000 | $8.1M | 1.05% |
| 27 | Harmonic Inc | HLIT | 785,000 | $7.8M | 1.01% |
| 28 | Climb Global Solutions Inc | CLMB | 75,000 | $7.7M | 1.01% |
| 29 | Everspin Technologies Inc | MRAM | 800,000 | $7.4M | 0.97% |
| 30 | Vishay Precision Group Inc | VPG | 190,000 | $7.3M | 0.96% |
| 31 | Five9 Inc | FIVN | 362,000 | $7.3M | 0.95% |
| 32 | ePlus Inc | PLUS | 75,000 | $6.6M | 0.86% |
| 33 | Intellicheck Inc | IDN | 975,569 | $6.5M | 0.85% |
| 34 | PDF Solutions Inc | PDFS | 225,000 | $6.4M | 0.84% |
| 35 | SPS Commerce Inc | SPSC | 70,000 | $6.2M | 0.82% |
| 36 | Arteris Inc | AIP | 400,000 | $6.2M | 0.81% |
| 37 | FormFactor Inc | FORM | 108,300 | $6.0M | 0.79% |
| 38 | First Advantage Corp | FA | 400,000 | $5.8M | 0.76% |
| 39 | Veeco Instruments Inc | 922417100 | 200,000 | $5.7M | 0.75% |
| 40 | Apple Inc | AAPL | 20,400 | $5.5M | 0.72% |
| 41 | Power Integrations Inc | POWI | 150,000 | $5.3M | 0.70% |
| 42 | Cogent Communications Holdings Inc | CCOI | 242,600 | $5.2M | 0.68% |
| 43 | Digi International Inc | 253798102 | 120,000 | $5.2M | 0.68% |
| 44 | Bel Fuse Inc | BELFB | 30,000 | $5.1M | 0.66% |
| 45 | Viavi Solutions Inc | VIAV | 275,000 | $4.9M | 0.64% |
| 46 | SimilarWeb Ltd | SMWB | 645,465 | $4.9M | 0.63% |
| 47 | CTS Corp | CTS | 110,000 | $4.7M | 0.62% |
| 48 | HealthStream Inc | HSTM | 200,000 | $4.6M | 0.60% |
| 49 | Advanced Micro Devices Inc | AMD | 20,720 | $4.4M | 0.58% |
| 50 | Kopin Corp | KOPN | 1,900,000 | $4.4M | 0.58% |
| 51 | QuickLogic Corp | QUIK | 730,379 | $4.4M | 0.57% |
| 52 | Ouster Inc | OUST | 200,000 | $4.3M | 0.57% |
| 53 | Workiva Inc | WK | 50,000 | $4.3M | 0.56% |
| 54 | Braze Inc | BRZE | 125,000 | $4.3M | 0.56% |
| 55 | RADCOM Ltd | RDCM | 325,000 | $4.2M | 0.55% |
| 56 | Novanta Inc | NOVTU | 35,000 | $4.2M | 0.54% |
| 57 | Vertex Inc | VERX | 200,000 | $4.0M | 0.52% |
| 58 | Mesa Laboratories Inc | 59064R109 | 50,000 | $3.9M | 0.51% |
| 59 | Rimini Street Inc | 76674Q107 | 1,000,000 | $3.9M | 0.51% |
| 60 | Simulations Plus Inc | SLP | 200,000 | $3.6M | 0.48% |
| 61 | Silicon Laboratories Inc | SLAB | 27,500 | $3.6M | 0.47% |
| 62 | M-Tron Industries Inc | 55380K109 | 67,000 | $3.6M | 0.46% |
| 63 | Aviat Networks Inc | AVNW | 155,000 | $3.3M | 0.43% |
| 64 | UiPath Inc | PATH | 202,280 | $3.3M | 0.43% |
| 65 | Himax Technologies Inc | HIMX | 400,000 | $3.3M | 0.43% |
| 66 | Bandwidth Inc | BAND | 210,000 | $3.2M | 0.42% |
| 67 | Teradyne Inc | TER | 16,600 | $3.2M | 0.42% |
| 68 | Powell Industries Inc | 739128106 | 10,000 | $3.2M | 0.42% |
| 69 | CSG Systems International Inc | 126349109 | 41,240 | $3.2M | 0.41% |
| 70 | N-Able Inc | NABL | 413,000 | $3.1M | 0.40% |
| 71 | Ooma Inc | OOMA | 260,000 | $3.0M | 0.40% |
| 72 | Digital Turbine Inc | APPS | 600,000 | $3.0M | 0.39% |
| 73 | Franklin Covey Co | FC | 175,000 | $2.9M | 0.38% |
| 74 | Spire Global Inc | SPIR | 386,249 | $2.9M | 0.38% |
| 75 | Commerce.com Inc | CMRC | 700,000 | $2.9M | 0.38% |
| 76 | Onespan Inc | OSPN | 200,000 | $2.6M | 0.34% |
| 77 | Arista Networks Inc | ANET | 18,700 | $2.4M | 0.32% |
| 78 | CI&T Inc | CINT | 600,000 | $2.4M | 0.32% |
| 79 | Freshworks Inc | FRSH | 190,000 | $2.3M | 0.30% |
| 80 | Ribbon Communications Inc | RBBN | 800,000 | $2.3M | 0.30% |
| 81 | Zoom Communications Inc | ZM | 25,910 | $2.2M | 0.29% |
| 82 | Dynatrace Inc | DT | 50,000 | $2.2M | 0.28% |
| 83 | Allient Inc | ALNT | 40,000 | $2.1M | 0.28% |
| 84 | Kyndryl Holdings Inc | KD | 80,000 | $2.1M | 0.28% |
| 85 | Tecogen Inc/Waltham MA | TGEN | 420,000 | $2.1M | 0.27% |
| 86 | Silicom Ltd | SILC | 125,000 | $1.8M | 0.24% |
| 87 | ADTRAN Holdings Inc | ADTN | 200,000 | $1.7M | 0.23% |
| 88 | Check Point Software Technologies Ltd | CHKP | 9,200 | $1.7M | 0.22% |
| 89 | Arrow Electronics Inc | 042735100 | 15,200 | $1.7M | 0.22% |
| 90 | Genasys Inc | GNSS | 700,000 | $1.5M | 0.20% |
| 91 | Valens Semiconductor Ltd | VLN-WT | 950,000 | $1.3M | 0.17% |
| 92 | Forrester Research Inc | 346563109 | 150,000 | $1.2M | 0.16% |
| 93 | Freightos Ltd | CRGOW | 500,000 | $1.1M | 0.15% |
| 94 | Bel Fuse Inc | BELFB | 7,500 | $1.1M | 0.15% |
| 95 | Aware Inc/MA | AWRE | 430,000 | $795,500 | 0.10% |
| 96 | Texas Instruments Inc | 882508104 | 4,100 | $711,145 | 0.09% |
| 97 | Intel Corp | INTC | 19,000 | $701,290 | 0.09% |